Largest Commercial Firm — "Selling & Leasing Picking Up"

CB Richard Ellis Group Inc., reported a first-quarter loss Wednesday but said the business of selling and leasing buildings was picking up. The Los Angeles-based company said it had a net loss of $6.6 million, or 2 cents a share, compared with a loss of $36.7 million, or 14 cents, in the same period a year ago. With posted adjusted earnings of 1 cent a share after deducting one-time charges mostly related to cost-cutting measures and write-downs of impaired assets, the brokerage met Wall Street analysts’ predictions. Chief Executive Brett White said market conditions were getting better, especially in Asia. Read more…